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    WK 29

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    BestHome's approach to product development is very thorough. They start by visiting customers' homes to understand real needs. Products are developed by cross-functional teams that work transparently. Design work occurs in a large open space to inspire creativity. Designers are also encouraged to travel and attend trade shows to stay aware of market trends and competitors. BestHome introduces around 1,500 new products each year to keep stores fresh, drive more revenue and profit, and maintain their competitive edge in the market.

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    WK 29

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    BestHome's approach to product development is very thorough. They start by visiting customers' homes to understand real needs. Products are developed by cross-functional teams that work transparently. Design work occurs in a large open space to inspire creativity. Designers are also encouraged to travel and attend trade shows to stay aware of market trends and competitors. BestHome introduces around 1,500 new products each year to keep stores fresh, drive more revenue and profit, and maintain their competitive edge in the market.

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    BestHome's approach to product development is very thorough. They start by visiting customers' homes to understand real needs. Products are developed by cross-functional teams that work transparently. Design work occurs in a large open space to inspire creativity. Designers are also encouraged to travel and attend trade shows to stay aware of market trends and competitors. BestHome introduces around 1,500 new products each year to keep stores fresh, drive more revenue and profit, and maintain their competitive edge in the market.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    16 views1 page

    WK 29

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    BestHome's approach to product development is very thorough. They start by visiting customers' homes to understand real needs. Products are developed by cross-functional teams that work transparently. Design work occurs in a large open space to inspire creativity. Designers are also encouraged to travel and attend trade shows to stay aware of market trends and competitors. BestHome introduces around 1,500 new products each year to keep stores fresh, drive more revenue and profit, and maintain their competitive edge in the market.

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    1 ▶ What is meant by product development?

    Product development involves identifying


    opportunities and ideas for new products and converting those ideas into marketable goods or
    services. BestHome introduces around 1 500 new products each year and is very committed to
    product development.
    2 ▶ Describe BestHome’s approach to product development. BestHome claims that its
    approach to product development is very thorough. For example, the development of new
    products often starts with a visit to people’s homes to find out the real needs of customers. The
    design process at BestHome is then handled by a number of teams. Each team contains a
    materials analyst, a product developer and a technician or engineer - in addition to designers.
    All the teams work transparently so that everyone can see what everyone else is doing. Design
    work is carried out in a huge aircraft hanger in Frankfurt where all products and prototypes can
    be seen. This helps to inspire the designers. The design facility has a prototype shop with
    craftsmen providing a range of different skills and a 3D printing facility. Finally, designers are
    encouraged to travel and work with foreign designers to learn new techniques and get fresh
    ideas. They are also required to attend all major international trade fairs to observe
    developments in the market and explore the activities of competitors.
    3 ▶ Discuss why BestHome brings out so many new products each year. BestHome stores
    typically stock 8000 products and each year around 1500 new products are introduced. This will
    help to keep the stores ‘fresh’ and encourage customers to revisit to find out what is new. New
    products help to generate more revenue and hopefully more profit. Also, a business that
    continually updates its product lines is likely to have a competitive edge in the market. This will
    help BestHome to maintain or grow its market share.

    Activity 1
    1 ▶ What is the main role played by packaging in the images? The left image shows packaging
    that can be recycled and a product that is eco friendly. This might attract customers who care
    more about the environment. They will feel happier buying products knowing that using recycled
    materials in the packaging has saved resources. Using recycled materials reduces the impact
    businesses have on the environment. Some consumers might be prepared to pay a higher price
    for such a product. Also, by using recycled materials, the business might enjoy lower costs. In
    the right image, packaging is used to help promote the product. It is designed to be attractive so
    that customers are drawn to the product. Arguably the bottle design for the perfume is stylish,
    attractive and ‘classy’. It will help to make the product appear more luxurious. It might also mean
    that the business can charge a higher price for the product.

    2 ▶ Discuss why this might be necessary. When businesses export their products, it may be
    necessary to change the packaging. There may be a number of reasons for this. In some cases,
    the names of products on packaging may have to be changed. This is because they may be
    misunderstood, inappropriate or offensive in other languages. Different countries also have
    different regulations relating to the packaging of products. For example, in some countries all
    the fat and salt content of food products have to be clearly shown on labels.

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